Petro America - Kansas Corporation

[Pryme]

So, hypothetically, if Petro does have the assets they claim to have do you believe it is possible this company will be able to rectify the issues with how stocks were offered and honor those shares of us who believe we are shareholders?

Absolutely.

However, you really would need to start from scratch. The some odd 12B outstanding shares have been issued illegally, and I've not seen nor heard of an instance where illegal shares are made legal through any process. There would have to be some mechanism to account for all the shares outstanding, and to whom they've been issued. At that point there needs to be some type of share swap or exchange, so the original shareholders receive equal quantity of shares in the new entity. (I know this can be done, but don't know the technicals of the process, and it certainly won't be easy and requires a major investment bank to do it correctly, IMO).

Also, critically important, is that New Petro have qualified specialists in their respective fields to launch and run the company. People with proven track records of results in prior similar situations, not these fly by night, snake oil salespeople Petro has thus far been associated with. Get a real, solid group of individuals for the Board of Directors, and go from there.

Naturally it is not as simple as stated, but I'm using broad strokes to flesh out an overall framework of the process.

It is absolutely possible, but like I said, it starts and end with provable asset value.